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they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix fundamental problems. why do we have to have the debate every three months? >> eric: sure. start with the debt ceiling and how it came about. prior to world war i, everybody was paid
they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the...
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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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Jan 19, 2013
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it would be great to control the debt with the debt ceiling. as you see through history, examples given it doesn't work at all. it becomes a political football, the other party not it in power, decides it's an of important thing. and president obama used to hate the debt ceilings. it's time to build something that controls the deficit properly and not arbitrary. >> brenda: toby, doesn't this basically give a blank check to washington saying we don't need a limit. at least when we have a limit we're forced to look at that number and realize how much we're borrowing. >> if that logic were true, they wouldn't have passed any of the spending stuff. first off, two countries in the world, united states and sweden who have a debt ceiling. people got rid of it, because what jonas is saying, it's political. and the second issue is, i don't want our economy held hostage and run by washington, right now, the buffoons in congress have more power over the economy with the, you know, stupid idea. if we give them this type of power we've hurt ourselves, kick
it would be great to control the debt with the debt ceiling. as you see through history, examples given it doesn't work at all. it becomes a political football, the other party not it in power, decides it's an of important thing. and president obama used to hate the debt ceilings. it's time to build something that controls the deficit properly and not arbitrary. >> brenda: toby, doesn't this basically give a blank check to washington saying we don't need a limit. at least when we have a...
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security
the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >>...
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but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he got a lot of conversation about why not negotiate. he said he's to the going to. we'll leave it there at least for the time being. >> rose: what will the republicans do, will they shut down the government. >> no, not over the debt ceiling. they may over the continuing resolution this is not their best vehicle. my guess is what they will probably have to do is give him a short-term extension. and then see if the senate will go along. they being of course the house republicans and just try to prolong this fight for a while. they don't want to have-- not shutting down the government is really spooking the credit markets and everything that major talked about a moment ago. and how the president would handle short-term extension is another matter. i think that would back him into a corner. he also ran into a problem because both in response to major and in response to julianna goldman he said i'm not going to negotiate over this. if t
but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he got a lot of conversation about why not negotiate. he said he's to the going to. we'll leave it there at least for the time being. >> rose: what will the republicans do, will they shut down the government. >> no, not over the debt ceiling. they may over the continuing resolution this is not their best vehicle. my guess is what they will probably have to...
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we are talking about the debt ceiling. versus spending cuts. chief congressional correspondent mike emanuel reports on the house g.o.p. winter retreat in virginia. >> at the house g.o.p. retreat in williamsberg, virginia, the leaders decided they will pass three-month temporary increase to give them time to finalize a budget. speaker boehner said before there is long-term debt limit increase a budget should be passed that cut spending. the house g.o.p. whip hinted at the strategy. >> our hope is to pass something early so the senate can take action as well. i wouldn't be jeopardizingor economy there. it shows it's a rational, put us on a better path. and i would hi the american public could support it and the senate as well. >> fox news poll reveals 83% think government spending is out of control. up five points from two years ago. 69% of those surveyed say the debt limit should only be raised after major cuts. aides to the number two senate republicans does not support giving president obama a blank check but told "houston chronicle" editorial
we are talking about the debt ceiling. versus spending cuts. chief congressional correspondent mike emanuel reports on the house g.o.p. winter retreat in virginia. >> at the house g.o.p. retreat in williamsberg, virginia, the leaders decided they will pass three-month temporary increase to give them time to finalize a budget. speaker boehner said before there is long-term debt limit increase a budget should be passed that cut spending. the house g.o.p. whip hinted at the strategy....
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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>> it's pretty hard on this one, charlie because he's right on the debt ceiling. major history absolutely dead on. but the debt sealing is a fraud. a total fraud. shouldn't exist. people from alan greenspan to tim geithner to anyone who has looked at it, to paul krugman say it is a total fraud. it's a political device. so on that he's right. and on the substance, right now i think that obama, he may not have articulated as well as quo have but i think he has clearly indicated that if you are looking for more deficit reduction, a bigger deal, not a big deal, he's willing to go pretty far for a democrat on entitlements. right now republicans-- . >> rose: how do you know that? >> well, i think he said he's willing to do that. he has put on the table in private conversations that they had in december, he was perfectly willing to go along with the change in the change for social security, he indicated strongly that he would look at some kind of means testing for affluent medicare recipients. those aren't little things. they are not as much as some people want. but the
>> it's pretty hard on this one, charlie because he's right on the debt ceiling. major history absolutely dead on. but the debt sealing is a fraud. a total fraud. shouldn't exist. people from alan greenspan to tim geithner to anyone who has looked at it, to paul krugman say it is a total fraud. it's a political device. so on that he's right. and on the substance, right now i think that obama, he may not have articulated as well as quo have but i think he has clearly indicated that if you...
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>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and m
>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our...
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no ground
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior political analyst. brit hume. good evening. >> hi, bret. >> the house republicans are not wrong to seek spending cut to allow borrowing by a treasury more than $16 trillion in debt. but in politics it's not enough to be right. you need to be effective. it requires recognition that politics is a team sport and being united is critical. this is true if the party controls one house of congress and the other party not only has the other one but the white house as well. consider what happened in the recent fiscal cliff end game. taxes were set to go up by law on january 1. some h
to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior...
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seriously, republicans were not elected to raise the debt ceiling and bring us into more debt and steal from our kids. where is the moral imperative that somebody, some party in in country is going to stand up and say enough is enough and we've got to live within our means and stop borrowing 46 cents of every dollar? where is that party? >> i think that they are there. they don't have a lot of-- a spokesperson yet. it's going to take some time. so, the thing is, this is the amazing thing. >> sean: capitulate in the meantime? >> i'm not saying that, but i think there is a responsibility for washington to say, okay, look, what are the things we can do within these parameters to make sure we don't wreck the economy. the fitch point, what obama is realizing, what fitch is saying could actually happen and smart preemptively to blame the republicans. >> sean: isn't it to be party, and balanced budget and greater freedom and to hell with the political consequences, take a stand? >> the republicans caved on the tax, yes, they did. they lost, they caved. >> sean: caved. >> and i don't like the w
seriously, republicans were not elected to raise the debt ceiling and bring us into more debt and steal from our kids. where is the moral imperative that somebody, some party in in country is going to stand up and say enough is enough and we've got to live within our means and stop borrowing 46 cents of every dollar? where is that party? >> i think that they are there. they don't have a lot of-- a spokesperson yet. it's going to take some time. so, the thing is, this is the amazing thing....
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get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in the first place. it would do so by removing the cap on the treasury of borrowing money. its chances of passage in the republican controlled house are basically slim and none. but at least it allows democrats to paint the republicans as extremists in their desire to attach the debt ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare
get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in...
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they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there were some things he said that were true, some things that he said that were, i think, misleading. importantly, he didn't put into proper context the discussion that we're having nationally about the debt ceiling and about the state of our finances more broadly. if you look at where we are, more than $16 trillion in debt, the president is right when he says that
they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american...
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the budget they voted for requires the debt ceiling to be raised. and now when the time comes to avoid default, they don't want to do it. but i think what you're seeing is speaker boehner knows this isn't a viable tactic. i think mr. ryan knows it's not a viable tactic. but there's a lot in the republican conference that continue to see this doomsday kind of approach as a viable approach. and i think that cooler heads are starting to prevail on the republican side. and that's a good thing. >> and you are part of this no labels coalition wanting to reach across the aisle. but let me read to you what david brooks wrote. polarization is too deep, special interests are too strong. the negotiators are too rusty. republicans are not going to give up their vision of a low-tax america. democrats are not willing to change the current entitlement programs. so realistically, do you really believe that the next four years are going to be different than the last four years? >> well, you know, i don't have a prediction. i have a job. and my job is to try to solve
the budget they voted for requires the debt ceiling to be raised. and now when the time comes to avoid default, they don't want to do it. but i think what you're seeing is speaker boehner knows this isn't a viable tactic. i think mr. ryan knows it's not a viable tactic. but there's a lot in the republican conference that continue to see this doomsday kind of approach as a viable approach. and i think that cooler heads are starting to prevail on the republican side. and that's a good thing....
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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some saying the white house doesn't need congress to raise the debt ceiling. coming up, former mississippi governor haley barbour will explain. at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. hamburger helper can help you back. and with box tops for education on every box, it helps you help your school. so you're doing good, just by making dinner. hamburger helper. available at walmart. so you're doing good, just by making dinner. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally.
some saying the white house doesn't need congress to raise the debt ceiling. coming up, former mississippi governor haley barbour will explain. at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. hamburger helper can help you back. and with box tops for education on every box, it helps you help your school. so you're doing good, just by making dinner. hamburger helper....
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obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling and push it off to say, june 30. you can't fight all three at the same time. a., i believe the democrats are as scared of the sequestration as the republicans are. there is nothing you can cut on the debt ceiling you can't cut on the continuing resolution. so i would say, mr. president, we are going to put the debt ceiling off to june 30. let me tell you why. between now and then, we are going on cut $3 trillion, $4 trillion -- whatever it is on the continuing resolution and the sequestration. if you stop us from doing that, you are going to put
obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling...
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ceiling and they have to not play around with the debt ceiling powell is a sophisticated player. i don't think he does anything without thinking it through quite well. that's why i said what i said i want to make sure we have your allegations on the record. i don't want to put words in your mouth. >> it's a supposition. >> bill: you say that you think that collin powell was asked by someone to go out and defend chuck hagel's nomination. and at the same time, raise the spector that some people are owe posing the president's policies because he is black. that that was to put in one interview in one presentation. that's what you think may have happened? it might have happened. implication of what he said really is quite inprogram inflay to say least. it's in line with what liberal commentators have said for some time. every time you criticize barack obama there will be someone out there in the blogosphere or television or radio saying well you just like the fact that a black man is in power. it's ridiculous. if you want to look at intolerance and collin powell knows this well you do
ceiling and they have to not play around with the debt ceiling powell is a sophisticated player. i don't think he does anything without thinking it through quite well. that's why i said what i said i want to make sure we have your allegations on the record. i don't want to put words in your mouth. >> it's a supposition. >> bill: you say that you think that collin powell was asked by someone to go out and defend chuck hagel's nomination. and at the same time, raise the spector that...
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congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our bills. congress has two choices here. we can act responsibly and pay america's bills. or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. jenna: republicans like congressman jason chaffetz blasting back against the president. >> i think the president was terribly irresponsible today. to say he will not talk about it because he is above it, but blame all of congress, in part congress helped create this problem but we are going to hear to solve this pr
congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our...
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>> reporter: house speaker john boehner says the american do not support raising the debt ceiling without cutting spending at the same time. boehner calls the debt an anchor on our economy. here's the leading senate republican, making his point. >> it's sort of like you have a kid who exceeds the credit card limit. you tear up the credit card, but you look at the spending. the republicans are willing to pay for past bills. these are about future bills. the president is missing the point that we are on an unsustainable path. >> reporter: portman acknowledges the need to raise the debt ceiling, but he supports the context of getting a handle on the spenning. >> shepard: this is disaster relief for victims of super storm sand gee right. we have had plenty of lawmakers saying we need to get a handle on government spending, but not when people are waiting for major disaster relief money. a key new jersey democrat is saying people from new york, new jersey and connecticut pay their fair share. three state, 16% of the taxes. you ask the question: who suffered because of super storm sandy? certai
>> reporter: house speaker john boehner says the american do not support raising the debt ceiling without cutting spending at the same time. boehner calls the debt an anchor on our economy. here's the leading senate republican, making his point. >> it's sort of like you have a kid who exceeds the credit card limit. you tear up the credit card, but you look at the spending. the republicans are willing to pay for past bills. these are about future bills. the president is missing the...
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ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being.
ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign...
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ceiling and delaying or expanding the debt ceiling and giving lip to 9 debt ceil for another two or flee months. we will be back in the thick of things in a few minutes but today we catch our breath. >>shepard: a lot of breath capping to be done. john bussey live with us from the "wall street journal" and steve, over to you, steve. well, steve is otherwise engaged i am now told. back to evan, presidential historian and live with us from new york, the president just got back into the limousine and will come to the reviewing stand behind us. i guess this is an important day for us to remember who it is we are and what we espouse to be and send a message to the world but more than anything, isn't this good for the kids on martin luther king jr. day to have the african-american president coming for his second inauguration? there is hope for a lot of people wrapped up in this man who may not have had hope before. >> there is hope for a lot of people wrapped up in this man. the constitution talked about and referred to, he used the phrase "we the people identification and that discussion
ceiling and delaying or expanding the debt ceiling and giving lip to 9 debt ceil for another two or flee months. we will be back in the thick of things in a few minutes but today we catch our breath. >>shepard: a lot of breath capping to be done. john bussey live with us from the "wall street journal" and steve, over to you, steve. well, steve is otherwise engaged i am now told. back to evan, presidential historian and live with us from new york, the president just got back into...
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i just want to come back to the debt ceiling. you said you wouldn't in this on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy, and you did. as you say now that you're not going to negotiates on the debt ceiling this year, why should house republicans take that seriously and say if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, let's take the example of this year and the fiscal cliff. i didn't say that i would not have any conversations at all about extending the bush tax cuts. i just said we wouldn't extend them for the wealthy. we didn't. you can argue that during the campaign i said -- i set the criteria for wealthy at $250,000, and we ended up being at $400,000, but the fact of the matter is millionaires and billionairres are paying significantly more in taxes just as i said. so for, you know, from the start, my concern was making sure that we had a tax code that was fair and it protected the
i just want to come back to the debt ceiling. you said you wouldn't in this on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy, and you did. as you say now that you're not going to negotiates on the debt ceiling this year, why should house republicans take that seriously and say if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, let's take the example of...
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lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the country's long term fiscal problems. >> this is a president that is forced to grapple with the budget woes, with the economy that cannot get over the hump. it will consume most of his time, i believe, in the second term. >> what he cannot do going into the term is go from economic crisis to economic crisis. that is not leadership. he has to figure out how to address this in ay way. our health care reform cannot waste, must not wait and will not wait another year. >> passing health care legislation early on was high on the president's to-do list. he picked kansas governor to head up health and human services, to get health care legislation done he largely passed control over to congress to put the bill together and to figure out how to get it through. it became a messy process about 2,000-plus-page
lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the country's long term fiscal problems. >> this is a president that is forced to grapple with the budget woes, with the economy that cannot get over the hump. it will consume most of his time, i believe, in...
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ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none have been discussed at least in the short term are going to solve the problem. the only way you solve the problem is by structural entitlement reform. you have to change the trajectory. it is not 50 billion from defense spending there. it would have an impact in our capability in context with the military but the only way you get serious and change the trajectory of the debt is to have entitlement reform. >> what does that take? we are europe and finally we have to do something about it? >> i think charles's point this is a president who wouldn'
ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none...
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credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn you
credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to...
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something representative barber says he still supports the second mainedment. >> i feel very strongly that the second amendment should be protected and the supreme court has ruled and there's no question it is a right that all americans have a right to bear arms or have a rifle for that matter. but the issue of the magazines which were used in the shooting in tucson in january of 2011 that's one that we need to take a hard look at. the shooter in our case had 30 bullets in the magazine one more in the chamber in less than 45 seconds 19 people were down and 6 were killed. i saw my boss shot through the head i saw
he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something...
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> let me ask you a question. a bill that says regardless of what happens the debt ceiling, that the united states will never default on the debt. would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican parties in some quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, f
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> let me ask you a question. a bill that says regardless of what happens the debt ceiling, that the united states will never default on the debt. would you support that or not? >> i support the concept. i'd have to look at the bill. the...
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but his strategy with fiscal cliff as is his strategy wonderful the debt ceiling is to split fracture and therefore neuter republicans in the house because that is all that stands between him and total dominance of washington in his second term. he wants a return to 2009-2010 when he had control of both houses he had a super majority in the senate. huge majority in the house. and revolutionized healthcare and passed the biggest spending bill the stimulus in galactic history. that's what he wants. the only way to do it is to do what he is doing and it already worked with the fiscal cliff fractured the republicans. who was in charge of the last vote? nancy pelosi, the democrats. she got 9 out of 10 to go with her. a few republicans. she controlled the agenda. that's his strategy. >> bill: it's working. and i don't know whether it's going to work down the road but he has two huge things going for him. the media behind him, all right. so think are going to support what he does generally speaking on the networks news level in the major urban newspapers and wire services like the associated
but his strategy with fiscal cliff as is his strategy wonderful the debt ceiling is to split fracture and therefore neuter republicans in the house because that is all that stands between him and total dominance of washington in his second term. he wants a return to 2009-2010 when he had control of both houses he had a super majority in the senate. huge majority in the house. and revolutionized healthcare and passed the biggest spending bill the stimulus in galactic history. that's what he...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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we will meet our obligations on our debt regardless of the debt ceiling. we will not default. that is an absolute, we will not default. the idea that we will if we don't raise the debt creel something an absolute flat out myth. >> gretchen: what else did he say you didn't agree with? >> the use of the expression, dead beat nation, that really is talking down america. the president is encouraging congress, encouraging america to pay its bills using a credit card to pay its bills, using borrowed money to pay its bills. that credit card will never be paid off and the balance on it will never be paid down. that is dead beat behavior and that should be pointed out. by using that expression, the president is talk down america. we stand not as tall in the eyes of the world when the president uses that kind of language. >> gretchen: could it also be he was talking down to republicans because he thinks right now that he has the majority of the american people on his side? to me, his words, whether or not they're true, resonate with some americans because he simplifies his message and d
we will meet our obligations on our debt regardless of the debt ceiling. we will not default. that is an absolute, we will not default. the idea that we will if we don't raise the debt creel something an absolute flat out myth. >> gretchen: what else did he say you didn't agree with? >> the use of the expression, dead beat nation, that really is talking down america. the president is encouraging congress, encouraging america to pay its bills using a credit card to pay its bills,...